Turkey Regulator Demands Bank Asya Information Before Sukuks (1)

Bank Asya
Bank Asya


Date posted: April 25, 2014

ISTANBUL

Asya Katilim Bankasi AS (ASYAB), the Turkish lender in partnership talks with Qatar Islamic Bank, must ask the regulator for permission to issue further sukuk under a 1.25 billion-lira ($587 million) debt program.

Turkey’s Capital Markets Board has asked to be informed of future issues, Cengiz Onder, head of investor relations at Bank Asya, said in a phone interview today from Istanbul. An official at the board, asking not to be named under government policy, said it’s seeking further documentation from Bank Asya before sales can resume, without giving further comment.

The lender is a member of the Tuskon business group, representing companies whose executives sympathize with U.S.- based cleric Fethullah Gulen. Prime Minister Recep Tayyip Erdogan says Gulen’s followers are behind corruption allegations from December. Turkish newspaper Sabah reported today that the Capital Markets Board has stopped Bank Asya from issuing sukuk debt, without saying where it got the information.

Bank Asya has sold 550 million liras in sukuk debt in small amounts with short maturities, and the Sabah story was based on false “speculation” that it was being blocked from issuing more, Onder said. The bank’s core focus will be on attracting deposits, he said.

In the six weeks after the corruption allegations became public, Bank Asya fell more than any other company on the benchmark XU100 index. The bank’s share price then climbed the most in 6 years after news of talks with QIB emerged last month.

Source: Bloomberg , April 24, 2014


Related News

Cancer patient arrested over Gülen links deteriorates to stage 4 in one month

Fatma Aşkın, a breast cancer patient who was arrested on Feb.14 in the southeastern Turkish province of Gaziantep due to her alleged links to the Gülen movement, has experienced a spread of the disease during her one-month stay in prison and has been diagnosed with stage 4 cancer.

Turkish Scholar Fethullah Gulen Speaks about PKK

Mustafa Tabanli Turkish scholar Fethullah Gulen broke a self-imposed 16-year broadcast silence and spoke to BBC about his home country Turkiye. One of the key issues facing the country is the Kurdish issue, Hizmet movements support for the peace process. Fethullah Gulen, Turkish scholar: “We were never completely aligned with any political party. But on […]

Turkey’s president is using the failed coup as an excuse to snuff out secular democracy

In the immediate aftermath of the Turkish military’s attempted coup on July 15, the international community responded with relief. While many people within Turkey and outside of it are no fans of Recep Tayyip Erdogan’s authoritarian regime, the bloodshed and chaos that would have resulted from a government overthrow seemed like the worse of two options.

Al-Azhar professor: Gülen courageously resists radicalism

Turkish Islamic scholar Fethullah Gülen teaches real Islam to the world while bravely resisting the destruction of the religion by radical and barbaric Muslims, a world-renowned professor at Egypt’s al-Azhar University said during an interview on Wednesday.

Russian envoy’s murderer attended sermons of controversial pro-Erdoğan cleric

While the Turkish government insists on claiming that Mert Altıntaş, the police officer who assassinated the Russian ambassador to Ankara, is linked to the Gülen movement, it has been discovered that the gunman attended the sermons of Nurettin Yıldız, a staunch supporter of President Recep Tayyip Erdoğan.

The irrationality of demanding Turkish schools abroad be shut down

Since last year, Turkish President Recep Tayyip Erdoğan has been constantly “advising” his foreign counterparts to shut down the Hizmet schools in their countries.

Latest News

Turkish inmate jailed over alleged Gülen links dies of heart attack in prison

Message of Condemnation and Condolences for Mass Shooting at Bondi Beach, Sydney

Media executive Hidayet Karaca marks 11th year in prison over alleged links to Gülen movement

ECtHR faults Turkey for convictions of 2,420 applicants over Gülen links in follow-up to 2023 judgment

New Book Exposes Erdoğan’s “Civil Death Project” Targeting the Hizmet Movement

European Human Rights Treaty Faces Legal And Political Tests

ECtHR rejects Turkey’s appeal, clearing path for retrials in Gülen-linked cases

Erdoğan’s Civil Death Project’ : The ‘politicide’ spanning more than a decade

Fethullah Gülen’s Vision and the Purpose of Hizmet

In Case You Missed It

D.C. Group Holds Annual Peace and Dialogue Dinner in Albemarle

Turkic American Alliance hosts iftar for members of US Congress

Society ready for a new constitution, but how about politics?

Buhari’s wife hails culture

Gezi anniversary reminder of Erdogan’s nine lives

I am concerned: Erdoğan and elections

Mischief-makers and the Hizmet movement

Copyright 2026 Hizmet News